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Economic Efficiency

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About 1 pages (37 words)
Efficiency (economics) Summary

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Routledge Dictionary of Economics, Second Edition

economic efficiency (D0)

The simultaneous achievement of both TECHNICAL and ALLOCATIVE EFFICIENCY. Farrell also described it as product or global efficiency.

References

Farrell, M.J. (1957) ‘The measurement of productive efficiency’, Journal of the Royal Statistical Society. Series A 120: 253–81.

This is the complete article, containing 37 words (approx. 1 page at 300 words per page).

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Copyrights
Economic Efficiency from Routledge Dictionary of Economics, Second Edition. ISBN: 0-203-00054-4. Published: 2005–06–05. ©2009 Taylor and Francis. All rights reserved.



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